Wonderla Holiday to raise Rs 180 cr in IPO

The issue, if successful, will be the first IPO of 2014

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Samie Modak Mumbai
Last Updated : Apr 10 2014 | 9:42 AM IST
Bangalore-based amusement park operator Wonderla Holidays plans to raise about Rs 180 crore from an initial public offering (IPO) between April 21 and April 23.

The company has fixed the price band for the offering between Rs 115 and Rs 125 per share.

Wonderla will issue 14.5 million shares in the IPO, resulting into dilution of 25.66%. The deal values the company at about Rs 700 crore.

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Wonderla's offering comes at a time when the primary market conditions have been tough, with only one offering during 2013-14.

The issue, if successful, will be the first new listing of calendar 2014.

Earlier this year, Loha Ispat, a steel manufacturer, had to withdraw its listing plans after its IPO failed to garner enough subscription.

Two domestic investment banks—Edelweiss Financial Services and ICICI Securities—are managing the IPO.

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First Published: Apr 10 2014 | 9:40 AM IST

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